Record Moves: Bitcoin Jumps To $57,000, Ethereum Crosses $2,000 As Elon Musk Calls Prices 'High'

Bitcoin: The price of Bitcoin (BTC) has surged to a record $57,181, at the time of writing.

This is one day after the leading digital currency market cap crossed the $1 trillion mark. The number has grown to $1.066 trillion since then, while the entire crypto market accounts for over $1.762 trillion.

Despite the massive price surges, predictions for even higher prices have been flowing in.

SkyBridge Capital’s Anthony Scaramucci recently said he believes Bitcoin will reach $100,000 by the end of this year.

Ethereum: The second leading cryptocurrency and "altcoin" leader also has been gaining momentum. Ethereum's (ETH) price just reached a new all-time high of $2,024, according to data from CoinMarketCap.

See also: How to Buy Bitcoin (BTC)

Mark Cuban said last week he thinks “ETH has an advantage over BTC as a store of value” because major innovations in the crypto space are happening on Ethereum.

Meanwhile, Tesla Inc TSLA CEO Elon Musk, who has been tweeting in favor of crypto, especially Dogecoin (DOGE), said that Bitcoin and Ethereum prices “seem too high,” replying to a thread by Peter Schiff, who is known for his crypto criticism.

Musk also mentioned what he believes is the real function: “Money is just data that allows us to avoid the inconvenience of barter,” he wrote.